‘Global Bank Liberia Dubiously Stole Over $4M From My Company’ – Businessman Kailondo Discloses
“That Nigerian bank criminally stole from me four million United States of Dollars from my account, after my boat had that accident that led to the death of one person , during that period so many dubious transactions started.”
Prosecutions lawyers in the ongoing alleged Theft of property and misapplication of entrusted property involving the management of Global bank Liberia limited and the Kailondo petroleum Incorporated, through it chief executive officer George Kailondo has produced it’s first witness.
On Tuesday March 22, 2022 Business Man and Chief Executive Officer of Kailondo petroleum George Kailondo took the witness stand and said that in December of 2013 his company Kailondo petroleum Inc, open a business account with the bank and had been during numerous business transactions.
He explained that following the opening of both the Liberian Dollars and United States Dollars accounts with Global Bank, the bank in return open an escrow account, making it both operational.
“when we sold products, we deposited the money in those accounts, the bank opened an escrow account for both the Liberian dollar and the united States Dollars. We as customers do not have control over the escrow account into the operational account for payment of any debt.” George Kailondo noted.
The Liberian businessman million of dollars was allegedly stolen as well by the GT Bank Liberia limited which matter is currently before criminal court C judge T Ciapha Carey.
Explaining further George Kailondo maintain that over the period they realize that over 4,253,000,00 plus was taken out of their operational account into the escrow account for payment of their debts.
“We realized that after we have paid all our loans and collateral turned over to us, then a man came to us saying that we owning them ,based upon the assertion , we requested our bank statements, which was difficult for us get .” Kailondo added.
He stated that based on the bank alleged failure to give his company the bank statements they inform the bank formal lawyer and the statement was given .
Upon receipt of the statement their auditors went through statements and it was discovered that a payment of USD$ 3,950.00 which was done in February of 2014 was revert in the company operational account.
He further disclosed that in June of 2015 an amount of USD$ 150,000,00 was moved from the operational account without authorization, then in January of 2016 an amount of USD$ 539,000.00 was also moved from the escrow account without bringing it to the operational account.
“ In early 2016 an amount of USD$ 750,000.00 was moved from the escrow account again without no authorization from us just like the USD$ 539,000.00 and never brought to the operational account which is the procedure that should have being followed based on our operation.
The rule of any bank opening an escrow account for it’s customer is when ever a payment is about to be done such payment should be brought to the operational account before been debited.
According to Kailondo the defendant Global bank Liberia limited without the fear of God ,move so many amounts out of his escrow account to unknown account not even to his operational accounts.
“Global bank lack the fear of God , for that they move so many amounts out of our escrow accounts to unknown account not even to our operational accounts. This same bank once we started dealing with them for the two loans , they follow the line of practice. Took our first payment from our operational accounts to the escrow account and did same with the second payment .” Kailondo maintain.
He disclosed in his testimony that after the second transaction, without any notice of what when wrong , after his boat got involved in an accident where one Nigerian national die ,from that accident the defendant Global bank began all types of dubious transaction in both their operational account and escrow accounts.
Every efforts are made to have the bank and are resolved this problem did not materialize as are wrote a communication to their lawyers, the CBL governor Mr J Aloysius Tarlue Jr. The Ministry of justice through the solicitor General Symah S Cepheus, the than acting chairman of the Liberia Anti Corruption Commission Cllr Kanio Bai Ballah for proper redress.
Meanwhile the prosecutions lawyers have issue a writ of subpoena Duces tecum and Ad /Testificandum to be served on the management of Global bank Liberia specifically the office of the managing director, the CLB governor Cllr J Aloysius Tarlue, Cllr Jallah A Barbie, of the public trust law firm, Cllr Saymah S Cepheus solicitor General of Liberia and Cllr Kanio Bai Ballah at the time acting LACC boss .
At the same time criminal court C judge T Ciapha Carey granted the writ pray for by the prosecuting attorney, while ordering the clerk to implement said request as pray for .